The Medical Tourism Market is expected to grow at a CAGR of 20.80 percent to USD 45 billion by 2027.
Medical Tourism Market Dynamics:
The medical tourism sector is expanding because of the ease and low cost of overseas travel, as well as access to benefits such as better healthcare, new medications, and more hospitality. Inadequate insurance coverage and a lack of healthcare insurance in markets, as well as gender reassignment therapies, fertility therapy, dental reconstruction, and cosmetic surgery, are driving market expansion. Furthermore, the availability of cutting-edge medical technology in medical tourism hubs throughout the world is likely to drive market growth.
Tourism is a significant contributor to long-term economic prosperity in many nations. Medical treatments are expanding as a tourism industry that creates a range of revenue streams in various locations. The majority of governments in these nations are focused on this profitable industry, passing favorable legislation and encouraging public and private investments in healthcare infrastructure. Companies may develop alliances with a range of government entities to capitalise on such opportunities and increase the flow of medical wellness services to such areas.
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